Crypto futures fees comparison: fee, spread and price impact
Lighter had the lowest entry cost for a $100,000 BTC perp market buy: $4.45, or 0.45 bps.
- Lighter, $100K BTC
- $4.45
- Rank 2, Paradex
- $9.25
- First CEX, MEXC
- $20.06
- Venues with a rank
- 37
Custom entries use the nearest supported order size.
More options
Order-book taker fees · list prices (no referral discount) · position-fee rows keep their venue model
Data stored · live quote measured 13:51 UTC · engine cache: 25 seconds; this page polls every 30 seconds. The 6-hour ranking pages show a stored sweep, so their costs can differ from this live quote when the order books move.
Lowest measured cost for a $100,000 BTC buy: Lighter, 0.45 bps ($4.45)All venues
Detailed cost comparison
Rank follows the execution model, including depth confidence. Sorting changes the display order. Check up to 4 venues to compare them side by side.
| Compare | Exchange10 shown · 44 match | Total costUSD · fee + spread + slippage | Trade |
|---|---|---|---|
#1 | $4.450.45 bps
| Trade | |
#2 | $9.250.92 bps
| Trade | |
#3 | $20.062.01 bps
| Trade | |
#4 RISEx | $30.303.03 bps
| ||
#5 Extended | $30.583.06 bps
| Trade | |
#6 NADO | $35.593.56 bps
| Trade | |
#7 | $40.004 bps
| Trade | |
#8 | $40.144.01 bps
| Trade | |
#9 Gains | $40.744.07 bps
| ||
#10 | $41.524.15 bps
| Trade | |
| Average41 priced venues · all matches | $55.905.59 bps |
Fee+Half-spread+Slippage=Total cost
1 bps = 0.01% · Values round independently.How we measureExplanation reviewed September 13, 2026. Quote times appear in the table.
Order books refresh every 25 to 30 seconds. Their fees are base taker rates without a referral discount. Position-fee venues keep their published opening-fee model and do not receive maker/taker VIP adjustments. Oracle and pool rows use documented or live position-increase price impact when it is available. Dynamic position-fee totals use the maximum value in the displayed range.
Order-book estimates use current visible depth. Pool and oracle rows use documented or live position-increase price impact when it is available. Actual execution can differ.
What the entry cost includes
Entry execution cost combines the venue fee, half-spread and price impact. Half-spread measures the move from the mid-price to the effective quote. Price impact measures the additional cost of filling through available depth. One basis point equals $1 on a $10,000 order.
The comparison supports 45+ perpetual venues and 20+ spot venues. Available rows depend on the selected asset and quote data. Order-book estimates use the measured depth at a supported size. Pool and oracle rows use their position-opening fee model, with documented or live price impact where available.
Compare the same asset, order size, trade side and fee tier. Check the source age, depth confidence and coverage notes. Missing depth cannot establish a cheap fill. Funding, borrowing, network costs and the later closing trade are separate from this entry estimate.
How to use this comparison
- Live spot + perp side-by-side. Switch between supported spot and perpetual markets. Quote availability depends on the selected asset and venue.
- Half-spread and price-impact components. Compare the fee, half-spread and price impact for the same supported order size.
- VIP simulator + custom size. Choose a supported order size, then select your 30-day volume to apply each eligible venue's published fee ladder. Custom entries use the nearest supported size so the displayed depth always matches the measured order.
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A lower fee can produce a higher entry cost
This hypothetical comparison prices one $100,000 taker entry on two order books. It assumes the same asset, side and complete fill. One basis point costs $10 at this size. These figures explain the calculation; they are not venue quotes.
| Cost component | Example A | Example B |
|---|---|---|
| Trading fee | 4 bps · $40 | 2 bps · $20 |
| Half-spread | 0.5 bps · $5 | 2 bps · $20 |
| Price impact | 1.5 bps · $15 | 4 bps · $40 |
| Entry total | 6 bps · $60 | 8 bps · $80 |
Example B saves $20 in fees but adds $40 in half-spread and price impact. Its entry total is $20 higher. A larger order can reach different price levels, so doubling this quote does not establish the cost of a $200,000 order.
From entry cost to holding cost
Add a separate closing estimate and any funding, borrowing, network or transfer charges. Closing liquidity and funding can change while you hold the position. Use the funding screener to inspect rates, then read how fees add up on a round trip.
Know what the quote can establish
Measured depth describes a source snapshot. It cannot guarantee an executable order or a future fill. The cost methodology explains partial fills, maker scenarios, reference quotes and separate pool models. The data status page reports collection health.
Frequently asked questions
What is the cheapest crypto exchange for spot trading?
There is no fixed winner for every spot order.
Select Spot, choose an asset and supported size, then compare available quotes. Total execution cost includes the fee, half-spread and slippage. A zero trading fee can still produce a higher total cost if liquidity is thin. Check the update age and data status above the table, as well as the fee tier and coverage.
What is the cheapest perp DEX in 2026?
Lighter publishes a 0 bps standard maker and taker tier.
Hyperliquid uses a maker/taker schedule. GMX and Jupiter use position fees instead. Their pool-based fills can include price impact, borrowing, funding, and network costs, so a headline fee is not an all-in quote.
How is entry execution cost calculated?
For taker orders, entry execution cost equals the selected trading fee plus half-spread plus price impact.
Half-spread measures the cost from the mid-price to the best available quote. Price impact measures the fill's volume-weighted average price against that quote. These separate components avoid counting the half-spread twice.
Oracle and pool rows use a position-opening fee and include documented or live price impact when available. Funding, borrowing, network costs and later closing costs are separate. Results use basis points and USD at the measured order size.
The page requests data every 30 seconds. Requests can reuse a cached result for 25 seconds. Collection depends on upstream availability. Check the snapshot age and data status in the table. Read the cost methodology for maker assumptions and each execution model.
Do VIP tiers and referral codes affect the cost shown?
The default view uses base-tier fees.
It applies no VIP or referral discount. Select Monthly Volume to estimate an eligible venue's VIP rate. Turn on Referral Discount to apply only the benefits in our venue map. A Trade link does not confirm eligibility. Read the venue terms before you register.
Why does the same exchange show different fees on spot vs perp?
Spot and derivatives can use different fee schedules.
A venue may combine some activity for VIP eligibility while applying different rates to each product. Select the market and fee scenario for your order, and check the venue schedule for account eligibility and current rates.
Which venues are excluded from the comparison and why?
Coverage depends on the adapters, supported markets and available quote data.
A venue can appear for perpetuals without appearing for spot. A missing row does not prove that the venue has no such product. Unsupported markets, unavailable depth and incomplete quotes cannot establish a comparable execution cost.